Phreesia (NYSE:PHR) Trading 7.2% Higher – Here’s What Happened

Phreesia, Inc. (NYSE:PHR)’s stock price was up 7.2% on Wednesday . The company traded as high as $29.18 and last traded at $29.23. Approximately 432,118 shares traded hands during trading, an increase of 4% from the average daily volume of 415,837 shares. The stock had previously closed at $27.27.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PHR shares. Robert W. Baird reduced their price target on Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Truist Financial increased their price target on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. JMP Securities restated a “market outperform” rating and issued a $30.00 price target on shares of Phreesia in a research note on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and issued a $29.00 price target on shares of Phreesia in a research note on Thursday, March 13th. Finally, Citigroup increased their price target on Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $31.33.

Phreesia Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $1.61 billion, a P/E ratio of -18.68 and a beta of 1.03. The stock has a 50-day moving average of $27.32 and a 200 day moving average of $24.06.

Insider Buying and Selling

In related news, General Counsel Allison C. Hoffman sold 3,496 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.32, for a total value of $88,518.72. Following the sale, the general counsel now directly owns 139,134 shares of the company’s stock, valued at $3,522,872.88. This trade represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Balaji Gandhi sold 3,195 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $26.61, for a total value of $85,018.95. Following the completion of the sale, the chief financial officer now directly owns 148,509 shares in the company, valued at $3,951,824.49. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,442 shares of company stock worth $4,611,300. Company insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

Several large investors have recently bought and sold shares of the business. Invesco Ltd. boosted its stake in Phreesia by 0.9% in the fourth quarter. Invesco Ltd. now owns 40,249 shares of the company’s stock valued at $1,013,000 after buying an additional 357 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Phreesia by 12.1% during the fourth quarter. NewEdge Advisors LLC now owns 4,256 shares of the company’s stock worth $107,000 after acquiring an additional 459 shares during the last quarter. Johnson Financial Group Inc. increased its holdings in Phreesia by 381.3% in the fourth quarter. Johnson Financial Group Inc. now owns 1,131 shares of the company’s stock worth $28,000 after purchasing an additional 896 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Phreesia by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 27,935 shares of the company’s stock worth $637,000 after purchasing an additional 905 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Phreesia by 3.8% in the third quarter. MetLife Investment Management LLC now owns 30,781 shares of the company’s stock worth $701,000 after purchasing an additional 1,120 shares in the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.